Talking finances with your elderly parents

Talking finances with your elderly parents

Discussing money matters with family is never an easy task… Here are tips on how to broach this delicate subject with your aging parents with a minimum of conflict. As your folks get on in age, you may find yourself concerned about their financial situation. Your concern is well-founded. Neglecting to plan for a loss […]

Getting into the retirement mindset

Getting into the retirement mindset

Retirement isn’t just about socking money away in your mattress. Retirement is also a state of mind because it’s an important life event for anyone who has spent their entire adult life in the work force. Here are a few tips to help you embrace this next stage in your life. Retirement means a departure […]

Worried about taxes at death?

Worried about taxes at death?

Written by Peter Wouters | empirelife.ca What’s the biggest cheque you or your estate will ever write? When do you think that might happen? For many people, the biggest cheque they will ever send to the government will be for the money owed on their death. Any unpaid or accrued income taxes, taxes triggered on the full […]

Should you retire early or retire late?

Should you retire early or retire late?

By Dave Dineen – sunlife.ca There are some important issues to consider when deciding the right time to retire — and they’ll have an impact on more than your wallet. When I was 57, I’d been retired for 3 years. Most people I talk to assume that I’m lucky, lazy, rich or ill. (Disclosure: I’m […]

30 Day financial Challenge

30 Day financial Challenge

Do some financial cleaning with our one-month challenge. WITH PLENTY OF PRIORITIES COMPETING FOR OUR ATTENTION, money matters can sometimes be pushed to the back of the shelf. But, just like an annual decluttering at home, getting our financial house in order can make a big difference to daily life. Make a commitment to take […]

Kids to inherit your vacation property on your passing? Watch out for the taxes!

Kids to inherit your vacation property on your passing? Watch out for the taxes!

Summer is upon us, which means spending longer days in the sun and enjoying your cottage with your family and friends. This is also the time that you may start thinking about the future of your cottage and your plans to pass it down your family. If you have decided to bequeath your vacation property […]

Millennials and Retirement

Millennials and Retirement

The opinion of retirees and older workers alike is that millennials may have a better chance to control their future when it comes to saving money for their future lifestyles. Let’s take a closer look at that and consider the millennial perspective. The Future of Retirement: Generations and Journeys research (2016) identified a number of […]

How to keep the fear of missing out from messing up your finances

How to keep the fear of missing out from messing up your finances

By Renée Sylvestre-Williams @ sunlife.ca   Giving in to FOMO can wreak havoc on your bank account. Here’s how to fight it with a genius budget trick – and a little help from your friends. From scrumptious brunches framed just right to party photos heavy on the merriment and glam, other people’s lives as shared […]

Estate planning in the cyber age‌‌‌‌‌‌‌‌‌

Estate planning in the cyber age‌‌‌‌‌‌‌‌‌

WITH MORE AND MORE CANADIANS conducting their daily business online – from banking and business meetings to shopping and hailing a cab – it should be no surprise that digital assets are increasing. According to Deloitte Canada, the average Canadian has $1,000 to $2,000 in value stored online.1 Deloitte estimates that by 2020, the average […]

Should you retire early or retire late?

Should you retire early or retire late?

By Dave Dineen @ Sunlife.ca There are some important issues to consider when deciding the right time to retire — and they’ll have an impact on more than your wallet. When I was 57, I’d been retired for 3 years. Most people I talk to assume that I’m lucky, lazy, rich or ill. (Disclosure: I’m […]

Diversification: risk and opportunity

Diversification: risk and opportunity

I’m sure many of you have heard the following statements. Perhaps you have made them yourselves. “I don’t like taking risks with my money.” “I can’t accumulate the amount of money I need by simply putting it all into a savings account or term deposits.” “What happens if I put all of my money into […]

Managing Health and Death Risk in Retirement

Managing Health and Death Risk in Retirement

When saving for retirement, you may get sick or have an accident, suffer a critical illness, require long term care or pass away. These factors should be considered when looking at savings and spending during retirement. Contingency planning plays a key role in comprehensive retirement income planning. Insurance can be a valuable tool in structuring your retirement […]

Avoid a Legacy of Taxes

Avoid a Legacy of Taxes

How you can reduce your risk of dementia

How you can reduce your risk of dementia

By Joy Blenman sunlife.ca From finishing high school to getting a hearing aid if you need one, here are 9 things you can do to reduce your risk of getting dementia. Dementia is a significant global health challenge for the 21st century. According to the 2015 World Alzheimer Report, 50 million people in the world have dementia, […]

Financial tips for your younger self

Financial tips for your younger self

Written by Peter Wouters Do you ever wish you could talk to your younger self about lessons you’ve learned, more than a few of them the hard way? There are the mishaps you could have avoided, the errors in judgement you could have missed and the regrets you wouldn’t hold. How much better would you feel […]

Who should think about critical illness insurance?

Who should think about critical illness insurance?

Original post: criticaluncovered.ca The answer is, most of us. It’s not fun to think about how your life might change if you were diagnosed with a critical illness. Or even, if your partner or child was diagnosed with a critical illness. But it’s realistic and responsible to be prepared when you have people depending on […]

Life Insurance as an Asset Class

Life Insurance as an Asset Class

Budgeting for Parents’ Care

Budgeting for Parents’ Care

The hidden costs of early RRSP withdrawals

The hidden costs of early RRSP withdrawals

By Joy Blenman sunlife.ca RRSPs are excellent savings vehicles for retirement, but early withdrawals from these tax-sheltered accounts can affect your tax bill right now. Early withdrawals from registered retirement savings plans (RRSPs) are increasingly common, but are they smart? In most cases, the answer is no. Early withdrawals from RRSPs have hidden costs that can damage […]

5 things you may be wondering about critical illness insurance

5 things you may be wondering about critical illness insurance

Original post: criticaluncovered.ca If you’re not familiar with critical illness insurance and how it works, you’ll want to talk to a financial security advisor about what to expect. Here are some things you may want to keep in mind when you meet with your advisor to talk about whether or not critical illness insurance is […]

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